CRNO Steel: Introduction
- Cold rolled non-oriented (CRNO) steel is an electrical steel grade. CRNO steel has silicon level of 2% to 3.5% and possesses similar magnetic properties in all directions in plan of the sheet. CRNO steel is primarily used in motors, generators, alternators, ballasts, small transformers, and various other electromagnetic applications.
Key Drivers of Global CRNO Steel Market
- Rapid industrialization and urbanization is a key driver of the CRNO steel market. Significant rise in investment in automobile, aerospace, metalwork, and metal fabrication industries over the last few years has been boosting the demand for CRNO steel. This trend is expected to continue during the forecast period.
- Increase in demand for CRNO steel among end-users such as automobile and electronics industries is anticipated to drive the market. Substantial rise in demand for automobile and home appliances in developing and developed countries around the world is propelling the demand for CRNO steel. This trend is estimated to continue during the forecast period.
Global CRNO Steel Market: Segmentation
- The global CRNO steel market can be segmented based on type, size, and end-user
- In terms of type, the global CRNO steel market can be classified into coils, sheets, and others. In terms of volume, the coils segment is expected expand significantly during the forecast period.
- In terms of size, the global CRNO steel market can be divided into up to 0.35 mm, 0.35 mm to 0.50 mm, 0.50 mm to 0.65 mm, and above 0.65 mm. In terms of volume, 0.35 mm to 0.50 mm and 0.50 mm to 0.65 mm segments are likely to expand at a faster pace in the near future.
- Based on end-user, the global CRNO steel market can be segregated into energy & power, automobile, home appliance, manufacturing, and others. The automobile and manufacturing segments are expected to lead the market due to a significant rise in demand for metalwork in these industries across the globe. This trend is predicated to continue during the forecast period.
Global CRNO Steel Market: Regional Segmentation
- Based on region, the global CRNO steel market can be split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific is expected to dominate the global CRNO steel market during the forecast period. The market in the region is estimated to expand at a significant pace during the forecast period. This can be ascribed to the rapid industrial development in the region. China, India, Japan, and Singapore are the leading countries in Asia Pacific. China is expected to lead the CRNO steel market in Asia Pacific due to the increase in investments in various end-user industries in the country.
- North America is also expected to account for considerable share of the global CRNO steel market during forecast period. Demand for CRNO steel has been rising in various industries such as automotive, aerospace, and metal fabrication in the region. The U.S. is the one of the leading countries for automobile and home appliances in North America. Thus, demand for CRNO steel is expected to rise in North America during the forecast period.
COVID-19 Impact on CRNO Steel Machine Market
- The COVID-19 pandemic has adversely impacted the global economy due to the stringent lockdowns imposed in all major countries. Investment in development of manufacturing and automobile industries has also been affected by these lockdowns. A few projects have been delayed, while some have been put on hold. However, governments of various countries across the world are easing lockdown restrictions. As a result, investment in manufacturing and automobile industry projects is estimated to rise steadily. This is projected to drive the demand for CRNO steel during the forecast period.
Key Players Operating in the CRNO Steel Market
- POSCO Maharashtra Steel Pvt. Ltd
- Tata Steel
- Nomax Electrical Steel Pvt. Ltd.
- thyssenkrupp AG
- JFE Steel Corporation
- NIPPON STEEL CORPORATION
Global CRNO Steel Market: Research Scope
Global CRNO Steel Market, by Type
Global CRNO Steel Market, by Size
- Up To 0.35 mm
- 0.35 mm to 0.50 mm
- 0.50 mm to 0.65 mm
- Above 0.65 mm
Global CRNO Steel Market, by End-user
- Energy & Power
- Home Appliance
The Global CRNO Steel Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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